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Azimut Exploration ( (TSE:AZM) ) just unveiled an update.
Azimut Exploration plans a 10,000-metre diamond drill program on its wholly owned Elmer Property in Québec’s James Bay region to expand the Patwon gold deposit and test nearby high-priority targets identified through an internal scoping study and reinterpretation of previous drilling. Building on a 2023 NI 43-101 resource estimate that outlined significant indicated and inferred ounces under varying gold-price assumptions, the company sees strong potential to grow resources along strike and at relatively shallow depths, and, contingent on positive drilling results, intends to update its mineral resource estimate and launch a preliminary economic assessment supported by advanced metallurgical, geotechnical, infrastructure and environmental studies, underscoring its ambition to advance Patwon toward development in a favourable gold-price environment.
The most recent analyst rating on (TSE:AZM) stock is a Hold with a C$0.90 price target. To see the full list of analyst forecasts on Azimut Exploration stock, see the TSE:AZM Stock Forecast page.
Spark’s Take on TSE:AZM Stock
According to Spark, TipRanks’ AI Analyst, TSE:AZM is a Neutral.
The score is held back primarily by weak financial performance—persistent operating losses and ongoing negative free cash flow—partly offset by a conservative, low-debt balance sheet. Technicals add support with a generally positive trend and neutral momentum, while valuation remains challenged due to losses and no stated dividend.
To see Spark’s full report on TSE:AZM stock, click here.
More about Azimut Exploration
Azimut Exploration is a Québec-based mineral exploration company focused on target generation and partnership development, holding the largest exploration portfolio in the province with strategic land positions for gold, copper, nickel and lithium. Its flagship Elmer Property in the James Bay region hosts the Patwon gold deposit, and the company is also advancing several other high-potential projects, including Wabamisk and Wabamisk East.
Average Trading Volume: 86,619
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$92.58M
See more insights into AZM stock on TipRanks’ Stock Analysis page.